Seacoast Banking Co. of Florida (NASDAQ:SBCF) Given Average Rating of “Hold” by Brokerages

Seacoast Banking Co. of Florida (NASDAQ:SBCF) has been given a consensus recommendation of “Hold” by the five brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $29.40.

Several brokerages recently commented on SBCF. Stephens raised their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Raymond James reissued an “outperform” rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Finally, Truist Financial dropped their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th.

Insider Activity

In other news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the transaction, the chief executive officer now owns 126,232 shares in the company, valued at $3,832,403.52. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Seacoast Banking Co. of Florida by 73.4% during the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 412 shares during the period. Kestra Investment Management LLC bought a new position in Seacoast Banking Co. of Florida during the fourth quarter worth about $34,000. Venturi Wealth Management LLC bought a new position in Seacoast Banking Co. of Florida during the fourth quarter worth about $76,000. KBC Group NV grew its holdings in Seacoast Banking Co. of Florida by 30.0% during the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 768 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Seacoast Banking Co. of Florida during the third quarter worth about $121,000. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

Shares of Seacoast Banking Co. of Florida stock opened at $28.45 on Wednesday. The company has a market capitalization of $2.43 billion, a PE ratio of 19.90 and a beta of 1.09. Seacoast Banking Co. of Florida has a 12 month low of $21.90 and a 12 month high of $31.68. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $28.01 and its 200 day simple moving average is $27.47.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. On average, research analysts predict that Seacoast Banking Co. of Florida will post 1.59 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida’s payout ratio is 50.35%.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.